Ethiopia Economic Statistics and Indicators

Economic Indicators For: Ethiopia › Change countryNational or Regional Currency: Birr, ETBYear of data: 2015 › Change yearNumber of Indicators Listed: 37Full Dataset: From Year 1980 to 2019Date of Last Update: 17th March 2015Population: 96633458 ; note: estimates for this country explicitly take into account the effects of excess mortality due to AIDS; this can result in lower life expectancy, higher infant mortality, higher death rates, lower population growth rates, and changes in the distribution of population by age and sex than would otherwise be expected (July 2014 est.)Area: total: 1,104,300 sq km ; land: 1 million sq km ; water: 104,300 sq kmNatural Resources: small reserves of gold, platinum, copper, potash, natural gas, hydropowerCapital: name: Addis Ababa ; geographic coordinates: 9 02 N, 38 42 E ; time difference: UTC+3 (8 hours ahead of Washington, DC, during Standard Time)

Ethiopia's economy is based on agriculture but the government is pushing to diversify into manufacturing, textiles, and energy generation.. Coffee is a major export crop. The agricultural sector suffers from poor cultivation practices and frequent drought, but recent joint efforts by the Government of Ethiopia and donors have strengthened Ethiopia's agricultural resilience, contributing to a reduction in the number of Ethiopians threatened with starvation. The banking, insurance, telecommunications, and micro-credit industries are restricted to domestic investors, but Ethiopia has attracted significant foreign investment in textiles, leather, commercial agriculture and manufacturing. Under Ethiopia's constitution, the state owns all land and provides long-term leases to the tenants; land use certificates are now being issued in some areas so that tenants have more recognizable rights to continued occupancy and hence make more concerted efforts to improve their leaseholds. While GDP growth has remained high, per capita income is among the lowest in the world. Ethiopia's economy continues on its state-led Growth and Transformation Plan under the new collective leadership that followed Prime Minister MELES’s death. The five-year economic plan has achieved high single-digit growth rates through government-led infrastructure expansion and commercial agriculture development. Ethiopia in 2014 will continue construction of its Grand Renaissance Dam on the Nile – a controversial five billion dollar effort to develop electricity for domestic consumption and export.
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